In real life, there are few countries implementing Capitalism. For example, US. In the US, the shares of earnings and wealth of the households in the top 1 percent of the corresponding distributions are 15 percent and 30 percent, respectively.As a result of implementing Capitalism, there is a big range of wealth between the rich and poor people. The rich will become richer, the poor will become poorer. As such a negative situation occurs, the crime rate in such country will be higher.

When a country is implementing capitalism, the government have no right to intervene in the free market. When such a situation happened, who are going to help those who are poor? The free market will be monopolized by those rich people. For the poor, they have no modal, no resources, no power, and no ability to compete in such an unfair market. How are they going to compete? Even if they owned the ability, the qualification, but they have no the fundamental term to fight with rich people that is money. In a free market, when you are rich, you will only become richer as u have a lots of money and resources to invest into. For the poor, they are not the one who demands how much salary from employer, but they are the one who are looking for how much the employer willing to pay them. As a result, they are forced to accept low wages in order to survive. The paid they get, not worth the effort they pay out. Normally, the wages they get, only enough to support their basic cost of living. As a result, They have no extra modal to help them to grow and to expand their ability. The low wages also influence buying power. As a result, poverty rate will be higher.

Some critique argues that the allocation of resources in capitalism is inefficient. For example, in 1995, around 200 million of Indians faced the problem of hunger. In the same year, India economy had exported around $ 625 million of wheat and $ 1.3 million of rice. In this case, Indian economy is able to export food worth around...

YOU MAY ALSO FIND THESE DOCUMENTS HELPFUL

...1, titled “Can Capitalism Lead to Human Happiness?” contains arguments from three critical philosophical thinkers of the philosophical world, namely Adam Smith, Karl Marx and Friedrich Engels. Simplified further, the issue stands as a comparative between which economic system is better equipped to provide the most happiness to the people, is it capitalism or communism? Capitalism goes by many names – liberal market economy and a free enterprise system. The word private becomes extremely vital in differentiating the two economic systems. Capitalism suggests that production and distribution of services are privately owned for private profit. All decisions are made by private entities rather than the government. Adam Smith, author of An Inquiry Into the Nature and Causes of the Wealth of Nations, vol. 1 and 2 (1869), concludes that yes, capitalism can lead to human happiness.
Communism is capitalism’s alter-ago, the ying to capitalism’s yang, the head to its tail. Exemplified by the cold war, the USSR marred the lines of Communism blurring into Absolutism. Communism does away with classifications in society while all is controlled by the government. Karl Marx and Friedrich Engels reply suggesting a darker image of mankind. Their ideology suggests that if people as left to their own self-interests, the rich will keep getting richer, while the poor will keep...

...﻿Do you believe that Capitalism is moral? Justify you answer.
Capitalism can be defined ideally as an economic system in which the major portion of production and distribution is in private hands, operating under what is termed a profit or market system. (Shaw et al. 2013, p.118) As compared to other forms of economic systems, capitalism benefits the society in various ways (and based on utilitarian argument, this will be morally preferred because the balance of good over bad is the greatest).
Few would deny that capitalism is the most productive and efficient economic system, especially after the collapse of Soviet Communism. But some critics still contend that capitalism is not a moral system. Yet morality is impossible unless one is free to choose between alternatives without outside coercion. Since capitalism is based on freedom of choice, it provides the best environment for morality and character development. In addition, business success not only requires but also rewards virtuous behavior by participants in the market.
A social system such as capitalism is a system of relationships and cannot be moral or immoral in the sense that a person can be – only individuals can be moral agents. However, a social system can be moral in its effects if it promotes the possibility and likelihood of moral behavior by individuals who act within it. It...

...Capitalism, Socialism, and Mixed Economies
Throughout this class we have discussed many different topics but capitalism, socialism, and mixed economies made me want to get a better understanding of the three. Comparing and contrasting each of their strengths and weaknesses would be the ultimate goal. As researching deeper into each of these topics, capitalism, socialism, and mixed economies they all have many different strengths and weaknesses.Capitalism is "an economic system based on private ownership of wealth, which is invested and reinvested in order to produce profit" (BOOK). When in a capitalist economy, it is described as the means of production are distributed to the private persons and that the market functioning determines the production and the pricing of the goods and services (Oak, Manali). There are many different strengths that go along with capitalism, such as, capitalism has an open competition in the market which leads to more and more economic growth. Another strength of capitalism is where the consumers regulate the market in giving a rise to the economy. This is considered by many people to be the greatest strength of a capitalist economy.
Capitalism has its many strengths, but it also has its weakness also. One weakness of capitalism is some people believe that a capitalist economy can make it to be an unfair...

...﻿Capitalism is a social system based on the principle of individual rights. Politically, it is the system of laissez-faire (freedom). Legally it is a system of objective laws (rule of law as opposed to rule of man). Economically, when such freedom is applied to the sphere of production its result is the free-market.
Adam Smith - father of capitalism
Francis Quesnay -
Joseph Schumpeter - that capitalism can only be understood as an evolutionary process of continuous innovation and "creative destruction"
John Maynard Keynes
Origin
(13-16th century)
The underlying theme of capitalism is the use of wealth to create more wealth. The simplest form of this is lending money at interest, reviled in the Middle Ages as the sin of usury. At a more sophisticated level capitalism involves investing money in a project in return for a share of the profit.
In the Middle Ages the attitude of the church to usury means that capitalism has little chance of developing.
Italy and Netherlands - 13th century
Florence - 14th century
Banks
Characteristics
Rights and Freedom
Capitalism has a number of characteristics, and the first can be grouped under the category of personal freedom. Basic personal rights and freedoms are the foundation of capitalism. Individuals must have personal property rights for legal control over resources such as land, minerals, crops and currency -- whether...

...﻿Capitalism is an economic system in which trade, industry, and the means of production are controlled by private owners with the goal of making profits.[1][2] Central characteristics of capitalism include capital accumulation, competitive markets and wage labor.[3] In a capitalist economy, the parties to a transaction typically determine the prices at which assets, goods, and services are exchanged.[4]
The degree of competition, role of intervention and regulation, and scope of public ownership varies across different models of capitalism.[5] Economists, political economists, and historians have taken different perspectives in their analysis of capitalism and recognized various forms of it in practice. These include laissez-faire capitalism, welfare capitalism and state capitalism; each highlighting varying degrees of dependency on markets, public ownership, and inclusion of social policies. The extent to which different markets are free, as well as the rules defining private property, is a matter of politics and policy. Many states have what are termed capitalist mixed economies, referring to a mix between planned and market-driven elements.[6] Crony capitalism is a state of affairs in which insider corruption, nepotism and cartels dominate the system. In Marxian economics this is considered to be the normal state of mature capitalism, while in...

...CAPITALISMCapitalism is defined as an economic system characterised by private or corporate ownership of capital goods; by investments that are determined by private decision; and by prices, production, and the distribution of goods that are determined mainly by competition in a free market. In this system, individuals and companies own and direct most of the resources used to produce goods and services, including land and other natural resources labour, and capital which includes factories and equipment and sometimes the money used in businesses. Adam Smith is often referred to as the “Father of Capitalism.” According to him, it is a system in which an “invisible hand” would maintain the market without government intervention. The government exists merely to protect individual rights, which also include the establishment of an "army to protect against foreign invaders; a police force to protect against domestic criminals; and a court system to settle disputes that arise, enforce contracts, and punish criminals according to objectively predefined laws."
Main Characteristics of Capitalism
1. Right to own property 2. Profit motive 3. Private ownership of means of production 4. Consumer’s sovereignty 5. Economic freedom 6. Social division of people 7. Price mechanism
PYRAMID OF CAPITALIST SYSTEM
Advantages of capitalism: 1. Decentralized economic system
It is considered as one of the greatest...

...﻿Capitalism: The Best Option
The current American economic landscape has been less than perfect for several years. The stock market has seen substantial losses, the banking industry has been dealt crippling blows, and the government has financially bailed out many major corporations out of taxpayer monies and the economy as a whole is suffering. From this, protests have begun across the nation. Some protesters, such as the Tea Party movement activists, are upset with government spending and demand it be stopped. Others, including the members of the newer Occupy Wall Street movement, blame the American capitalist system and state that a newer economic framework must be used if America is to continue as the prosperous superpower it once was. The question of the time is this: Is the American capitalist system preferable to alternative economic models?
When the question of capitalism's sustainability comes up, there are a couple of obvious alternatives that come to mind, and also a couple of lesser known options. The main contenders that should be looked at as alternatives to capitalism are fascism, communism, welfare statism, and fascism. There are other economic models out there, but these are the more realistic contenders as alternatives to the current American system. After a thorough comparison of these models to capitalism, it is certain that the American capitalist system will emerge as the preferable choice....

...﻿Happiness and Virtue: Julia Annas
“Virtue and Eudaimonism”
Annas begins by taking stock of contemporary virtue ethics. She notices that there has been a resurgence in thinking about morality from the perspective of virtue (areté), however, at the same time, it seems as though we have not likewise taken guidance from the ancients in terms of thinking about happiness (Eudaimonia).
She thinks that to focus on the one without the other is to miss the point. After all, it is tough to make sense of the idea of virtue – understood as proper functioning – without understanding the purpose at which virtue aims: the happy or eudaimon life
So, the structure of her paper will be as follows:
She will first explore the idea of ‘virtue’ from the perspectives of both modern and ancient theories.
Next, she will explore the concept of ‘happiness’ from each of the perspectives.
Finally, she will try to synthesize, and in her words, ‘transform’ each concept into a more robust notion of each.
Virtue – Modern and Ancient:
Annas notices that our concept of virtue is utterly a mess; even contrary sometimes. She notes that people just have no clear sense of what a virtue might be and how we ought to incorporate it into our lives.
She writes (p. 247):
It is as though we realize that virtue is a powerful normative notion, and would like to make more use of it, but have somehow lost our grip on what it is.
She believes that...

Study Tools

Company

Follow

{"hostname":"studymode.com","essaysImgCdnUrl":"\/\/images-study.netdna-ssl.com\/pi\/","useDefaultThumbs":true,"defaultThumbImgs":["\/\/stm-study.netdna-ssl.com\/stm\/images\/placeholders\/default_paper_1.png","\/\/stm-study.netdna-ssl.com\/stm\/images\/placeholders\/default_paper_2.png","\/\/stm-study.netdna-ssl.com\/stm\/images\/placeholders\/default_paper_3.png","\/\/stm-study.netdna-ssl.com\/stm\/images\/placeholders\/default_paper_4.png","\/\/stm-study.netdna-ssl.com\/stm\/images\/placeholders\/default_paper_5.png"],"thumb_default_size":"160x220","thumb_ac_size":"80x110","isPayOrJoin":false,"essayUpload":false,"site_id":1,"autoComplete":false,"isPremiumCountry":false,"userCountryCode":"US","logPixelPath":"\/\/www.smhpix.com\/pixel.gif","tracking_url":"\/\/www.smhpix.com\/pixel.gif","cookies":{"unlimitedBanner":"off"},"essay":{"essayId":36221674,"categoryName":"Fiction","categoryParentId":"17","currentPage":1,"format":"text","pageMeta":{"text":{"startPage":1,"endPage":2,"pageRange":"1-2","totalPages":2}},"access":"premium","title":"Capitalism Is Not the Best Route of Happiness","additionalIds":[3,52,19,9],"additional":["Business \u0026 Economy","Business \u0026 Economy\/Organizations","Natural Sciences","Entertainment"],"loadedPages":{"html":[],"text":[1,2]}},"user":null,"canonicalUrl":"http:\/\/www.studymode.com\/essays\/Capitalism-Is-Not-The-Best-Route-1149286.html","pagesPerLoad":50,"userType":"member_guest","ct":10,"ndocs":"1,500,000","pdocs":"6,000","cc":"10_PERCENT_1MO_AND_6MO","signUpUrl":"https:\/\/www.studymode.com\/signup\/","joinUrl":"https:\/\/www.studymode.com\/join","payPlanUrl":"\/checkout\/pay","upgradeUrl":"\/checkout\/upgrade","freeTrialUrl":"https:\/\/www.studymode.com\/signup\/?redirectUrl=https%3A%2F%2Fwww.studymode.com%2Fcheckout%2Fpay%2Ffree-trial\u0026bypassPaymentPage=1","showModal":"get-access","showModalUrl":"https:\/\/www.studymode.com\/signup\/?redirectUrl=https%3A%2F%2Fwww.studymode.com%2Fjoin","joinFreeUrl":"\/essays\/?newuser=1","siteId":1,"facebook":{"clientId":"306058689489023","version":"v2.9","language":"en_US"}}